Will Gilead and AstraZeneca join forces?

There have been whispers that AstraZeneca has approached Gilead for a potential merger. The two drug makers are among the most prominent in the Covid-19 response: Gilead manufactures remdesivir, which is the only FDA-approved medication for the novel coronavirus. And AstraZeneca is behind one of the largest efforts to develop a coronavirus vaccine, hoping to ultimately produce some 2 billion doses.

But some analysts quickly dismissed the prospect. Jefferies deemed a merge as "unlikely given limited strategic rationale" for AstraZeneca, and that Gilead's still in the midst of a turnaround under a relatively new CEO. And The Times reported that AstraZeneca has already dropped interest in the deal, with sources saying that it would distract from developing its own promising pipeline.